Altcoins will grow as long as BTC grows steadily

According to blogger “Altcoin Sherpa,” now we are in such a phase of market growth that altcoins will grow only if BTC grows. In his opinion, meme coins will grow slowly, but acquiring some of them can bring profits. CoinShares said in its latest report that investments in crypto-asset-based products showed an impressive recovery after six weeks of $408 million in outflows. Let’s see which of the altcoins has the best chance of growth.

Over the past week, altcoin infusions totaled $160 million, the largest weekly gain since July 2022. XRP has been one of the best performing altcoins during the last two weeks, with $1.2 million in inflows. Ripple has also seen high social media dominance, the highest this year, on the expectation of a court decision against the SEC.

Speaking about the timing of the altseason, the expert @AltcoinSherpa expressed this opinion:

I think that the overall macro environment will be a little better by the end of 2023. I also think that we have seen a lot of Q4 rallies in 2017, 2020, 2021 and altcoin rallies most Q4s in those years plus 2018/2019. Alts have had rallies nearly every year in Q4.

Speaking about some individual altcoins, he gave these predictions:

• $ETH: I think [it] outperforms btc overall and could potentially be that way going forward.
• $XRP and $DOGE Those 2 are highly unpredictable, and I wouldn’t be surprised to see [them] do a 2-3x run at least once in 2023. 
• $SOL: I think it recovers, but [it] depends on the overall selling pressure from FTX/SBF.
• $BNB is still strong, [and] I think that Binance FUD blows over and they [will] still remain the #1 player in the crypto ecosystem. 
• $MATIC: I think they have good chances in 2023,l; their BD and partnerships seem good.
• $AVAX: Not so sure, tbh. Could be a dead chain going forward; [it’s] hard to say.
• $DOT: I think it is still mostly a dead chain [and has] never captured much attention. 
• $LINK chart looks good and should still be a top oracle.

#Altcoinseason is just around the corner 🚀

All #altcoins are currently in the accumulation phase, the best point to be before taking off! pic.twitter.com/RJ1N0Csh8a

— buidlbee: make it with crypto (@buidlbee) March 31, 2023

Other experts believe that there is no need to wait until fall 2023; the alt-season will start soon. So @bellavistacap says:

Altcoin season party is closer and will be wildish as i said

And user @TrueGemHunter adds:

BTC dominance about to dump, finally something bullish for altcoins 

In particular, @originofmarkets says in his recent thread about the altseason:

My current favorite, which is still in the accumulation phase and has not broken out yet, has to be Elrond (EGLD). Both the USD and BTC chart looking Range Bound and ready for more upwards.